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at a redemption price equal to the principal amount thereof plus accrued interest to the redemption date. . (5) The Bonds are subject to mandatory redemption as a whole (but not in part) on any date prior to the expiration date of the Initial Letter of Credit, upon receipt by the Fiscal Agent of written notice from the Bank that (a) an event of default under the Reimbursement Agreement has occurred and instructing the Fiscal Agent to redeem all Bonds or (b) repayment of an Interest Payment Draft (as said term is defined in the Reimbursement Agreement) under the Initial Letter of Credit has not been received by the Bank within six Business Days after such drawing and instructing the Fiscal Agent to redeem all Bonds. . (6) The Special Term Bonds are subject to mandatory redemption as a whole or in part on December 15, 1986, December 15, 1987 and December 15, 1988 in the event proceeds remaining in the Escrow Fund cannot be invested at a rate equal to or in excess of the 7.5% per annum and on December 15, 1990, if the Tax Revenues with respect to the Bonds received or to be received by the Agency for the 1990/91 Fiscal Year are not equal to at least 1.20 times the Maximum Annual Debt Service remaining on the Bonds then Outstanding payable from moneys on deposit in the Escrow Fund. B. Call and Redemption; Notice of Redemption. The Agency may (and, if required by Section 11 hereof, shall) direct the call and redemption prior to maturity of Bonds by the Fiscal Agent in such amounts as there are funds available for use in redemption and shall give notice to the Fiscal Agent of the redemption prior to the date notice of redemption is required to be given. . Notice of redemption prior to maturity (except as provided below) shall be given by first class mailing, postage prepaid, not less than ten (10) nor more than twenty (20) days prior to the redemption date, (i) to the original purchaser(s) of the Bonds (in the case of a syndicate, to the manager thereof), and (ii) to the registered owner of each such Bond at the address shown on the registration books of the Fiscal Agent. Neither the failure to mail the notice nor any defect in any notice mailed shall affect the sufficiency of the proceedings for the redemption of any Bonds. The notice of redemption shall (a) state the redemption date; (b) state the redemption price; (c) state the numbers of the Bonds to be redeemed; provided, however, that whenever any call for redemption includes all of the Outstanding Bonds, the numbers of the Bonds need not be stated; (d) state, as to any Bonds redeemed in part only, the registered Bond numbers and the principal portion thereof to be redeemed; and (e) state that interest on the principal portion of the Bonds designated for 12-02-85 9563p/228l/0l -16-